An agreement has been signed by HCL Technologies to take Liberata Financial Services (LFS), a leading U.K.-based BPO provider and wholly owned subsidiary of Liberata, under its cover. LFS controlled by the Financial Services Authority (FSA) is an expert in providing end-to-end administrative and customer services for the Life and Pensions industry. After this acquisition, HCL will take over four of its delivery centers in the U.K. that has around 800 professionals, who too will become a part of HCL.
“This acquisition will equip HCL with a ready capability across the value chain by providing access to an existing revenue stream of policy management, actuarial and analytics catapulting HCL to become a leading service provider in the UK market for the Life and Pensions industry,” comments Ranjit Narasimhan, President and CEO, HCL BPO, on the acquisition.
Technologically, LFS has been very strong and has from time-to-time demonstrated capability to support multiple books of business and multiple insurers on a common platform. In the long list of LFS’ customers, Blue Chip is one of them.
On the acquisition, Robert Gogel, CEO, Liberata, seems quite pleased and expressed it by saying, "We are pleased to have found an appropriate buyer for this business, thereby assuring its long-term future development. …. This sale will enable Liberata to focus on its core BPO business in the public sector."
